Pinnacle Financial Partners Inc Has $22.31 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Pinnacle Financial Partners Inc increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,788 shares of the social networking company’s stock after buying an additional 1,909 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Meta Platforms were worth $22,311,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the 4th quarter valued at $41,000. Cordant Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at $59,000. Finally, Reston Wealth Management LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several research reports. Argus set a $775.00 price target on Meta Platforms in a report on Tuesday, February 4th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Royal Bank of Canada lifted their target price on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Citigroup lifted their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $595.00, for a total value of $538,475.00. Following the transaction, the insider now directly owns 36,535 shares of the company’s stock, valued at approximately $21,738,325. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $577.49, for a total value of $238,503.37. Following the completion of the transaction, the chief operating officer now directly owns 19,166 shares in the company, valued at approximately $11,068,173.34. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 813,951 shares of company stock valued at $526,565,232. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $668.20 on Friday. The stock’s 50 day moving average is $653.18 and its 200 day moving average is $596.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $1.69 trillion, a P/E ratio of 27.93, a P/E/G ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company earned $5.33 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s payout ratio is 8.78%.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.